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State Budget

Thursday, March 14, 2013

VIDEO: Patrick Addresses Hundreds at Budget Rally

The event was organized by Campaign for Our Communities, a coalition of more than 120 organizations across the commonwealth.

Hundreds of people bused in from across the state packed into a State House auditorium Tuesday morning to rally in support of Gov. Deval Patrick's tax plan, which they say is critical to make much needed improvements in education and transportation infrastructure.   The rally, which was organized by Campaign for Our Communities, a coalition of more than 120 organizations across the commonwealth, ended with attendees heading off to the offices of their representatives, urging them to vote for Patrick's plan. The governor's $34.8 billion budget proposal calls for an increase in the income tax from 5.25 percent to 6.25 percent and the elimination of 44 deductions coupled with a decrease in the sales tax from 6.25 percent to 4.5 percent and a …

Friday, February 15, 2013

Senate OKs $200M Withdrawal From Rainy-Day Fund to Offset Budget Gap

Part of the money will also be used to help employers pay for a rise in unemployment insurance rates.

The state senate voted Tuesday to spend $200 million in rainy day cash to balance the budget and freeze the unemployment insurance rates businesses pay, according to The Republican. The bill is part of an effort to close a projected $515 million shortfall in this fiscal year's $32 billion budget, caused by lower-than-expected tax revenue.  The reserve fund money will also be used to help employers avoid a projected 28 percent increase in unemployment insurance – knocking that rise down to 4.4 percent. About $30 million of the $200 million withdrawal will be used to pay costs incurred in the state drug-lab scandal, The Republican reported.  The spending would still leave Massachusetts with $1.2 billion in reserves, which is more than most …

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